Voices
How Can Advisors Help Blacks, Hispanics Improve Financial Planning?

Financial advisors sometimes puzzle over how to effectively reach and serve black and Hispanic clients. A Vanguard study released recently suggests they can start by drilling home a simple message: emergency savings accounts are a must.

Blacks were almost twice as likely to take a hardship withdrawal from their 401(k) accounts as whites, and Hispanics were about one third as likely to do so, according to a Vanguard study released this week.